Merck completed the acquisition of VelosBio from Arix and Pappas Capital for $2.75bn.

Merck, a multinational science and technology company, completed the acquisition of VelosBio, a privately held clinical-stage biopharmaceutical company, from Pappas Capital, a venture capital firm, and Arix Bioscience, a global healthcare and life science company, for $2.75bn. “Merck is a recognized leader in oncology, and this acquisition reflects the hard work and commitment of all the employees at VelosBio in advancing the science of ROR1. We are very pleased that Merck has recognized the value of our first-in-class ROR1-directed investigational therapeutics. As part of Merck’s oncology pipeline, our lead product candidate, VLS-101, is now well positioned to achieve its maximum potential to benefit appropriate cancer patients in need,” Dave Johnson, VelosBio Founder and CEO.